Just upgraded (Version 1.07 ) and now when I try to install the short code in a post it does not work.

I click the gallary icon, click on photonic, click flicker, fill out the form (the short code preview does not show anyting) click insert and noting happens. This was working with the previous version.

Did you upgrade/add any other plugin. I am able to get the insertion to work fine on my sites. I would suspect a JS conflict with another plugin and if you have Firebug you can see what messages are output. Photonic is cautious about adding JS where not required - other plugins might not be so.